Banking, Insurance and Life Insurance (prudential standards) determination No. 4 of 2011 - Prudential Standard CPS 520 - Fit and Proper
Responsible persons of authorised deposiResponsible persons of authorised deposit-taking institutions and authorised banking NOHCs
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Responsible persons of authorised deposit-taking institutions and authorised banking NOHCs
- A responsible person of an ADI (other than a foreign ADI) or authorised banking NOHC is any person who is:
(a) a director of the regulated institution;
(b) a senior manager of the regulated institution;
(c) an appointed auditor who provides any report in relation to the ADI that is required to be prepared by an auditor under the Banking Act, Prudential Standards made under the Banking Act or Reporting Standards under the Financial Sector (Collection of Data) Act 2001;
(d) an appointed auditor who provides any report in relation to the authorised banking NOHC that is required to be prepared by an auditor under the Banking Act, Prudential Standards made under the Banking Act or Reporting Standards; or
(e) a person who performs activities for a subsidiary of the regulated institution where those activities could materially affect the whole, or a substantial part, of the business of the regulated institution or its financial standing, either directly or indirectly.
- References to a subsidiary in subparagraph 1(e) do not apply to a subsidiary that holds an RSE licence under the Superannuation Industry (Supervision) Act 1993. [27]